Notes issued in two tranches supports acquisition of 24 aircraft currently leased in 18 countries from Bank of China Aviation leasing Unit~~Playing a major role in a historic aircraft-backed securitization deal, Milbank, Tweed, Hadley & McCloy LLP has advised international underwriters in the issuance of more than $807.9 million of notes by Shenton Aircraft Investment I Ltd. (SAIL). The transaction, backed by 24 aircraft to be acquired from BOC Aviation Pte. Ltd (BOC Aviation), is the first aircraft-backed securitization in Asia, and the first for BOC Aviation.~~Milbank advised the underwriters’ deal team, acting on behalf of Citibank, Goldman Sachs, Bank of China International, Deutsche Bank, BNP Paribas, and Morgan Stanley.~~BOC Aviation sold a total of 24 aircraft, made by Airbus, Boeing, and Embraer, to SAIL. To finance a portion of the purchase, SAIL issued $747.4 million in 4.75% Series A notes and $60.5 million of 5.75% Series B notes.~~“We’re happy to have advised on the first-ever aircraft ABS offering in Asia, led by one of the region’s leading aviation lessors,” said Drew Fine, Head of Milbank’s Transportation and Space Group. “This was a terrific deal involving a portfolio of jets flying worldwide on lease to 21 airlines.”~~He continued: “BOC Aviation experienced a successful first foray into aircraft-backed securities with a portfolio that is representative of its fleet. This transaction is an excellent showcase for our global aviation finance group.”~~The Milbank team included Transportation and Space partners Drew Fine and James Pascale and associates Min Heo, Jasmine Jin, Freyda Mechlowicz and Alessandra Tarcher; Securities partners Arnie Peinado and Brett Nadritch and associates John Ablan, Alex Gefter and Conor Colasurdo; Tax partner Andrew Walker and special counsel Eschi Rahimi-Laridjani.